The gross charter rate is US$10 800/day, minus a 5% commission paid to third parties, for a period of about 14 months to about 16 months. The new charter period is expected to commence on 11 April 2019.

The Phaidra is a 87 146 DWT post-panamax dry bulk vessel built in 2013.

This employment is anticipated to generate approximately US$4.37 million of gross revenue for the minimum scheduled period of the time charter.